World oil prices
At 6:30 a.m. on September 11, WTI oil price was trading at 87.08 USD/barrel, down 0.43 USD/barrel, while Brent oil was trading at 90.37 USD/barrel, down 0.28 USD/ounce compared to early this morning.
Oil prices fell today as investors turned more cautious amid a rapidly rising US dollar that made prices more expensive.
In addition, rising supplies from Iran and Venezuela could offset the decline in supplies from Saudi Arabia and Russia, which could limit the rise in oil prices.
Analysts say that as supply tightens, oil prices will continue to stay high.
Gasoline prices continue to plummet today.
UBS Bank (Switzerland) predicts that Brent oil prices could peak at $95/barrel by the end of the year if Saudi Arabia and Russia maintain production cuts.
Goldman Sachs Bank (USA) said that if both Russia and Saudi Arabia continue to tighten supply, oil prices could reach $107/barrel by December 2024, equivalent to the early period of the Russia-Ukraine war.
Domestic gasoline prices
In the domestic market, the selling prices of gasoline and oil today are applied according to the prices at the management session on the afternoon of September 5 of the Ministry of Finance - Industry and Trade.
Accordingly, the retail price of E5 RON92 gasoline increased by VND132/liter, not higher than VND23,471/liter; the price of RON95 gasoline increased by VND270/liter, not higher than VND24,871/liter.
Diesel price also increased by 291 VND/liter, to 22,645 VND/liter; kerosene price increased by 505 VND/liter, to 22,814 VND/liter. Only fuel oil price decreased by 277 VND/kg, not higher than 17,704 VND/kg.
During this management period, the Ministry of Finance and the Ministry of Industry and Trade did not set aside the Price Stabilization Fund for all petroleum products. At the same time, the fund was not spent on all products.
Since the beginning of the year, gasoline prices have undergone 25 adjustments, including 15 increases, 7 decreases, and 3 unchanged prices.
Ngoc Vy
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